Game theory is necessary to understand which kinds of markets? (i)
Perfectly competitive
(ii)
Monopolistically competitive
(iii)
Oligopoly
(iv)
Duopoly
(v)
Monopoly
A)(i) and (ii) only
B)(iii), (iv), and (v) only
C)(iii) and (iv) only
D)(i), (ii), (iii), (iv), and (v)

Question

Quizplus · Accepted Answer

Game theory is particularly relevant in markets where strategic interactions between a few firms are significant, such as in oligopolies and duopolies.

Game Theory Is Necessary to Understand Which Kinds of Markets